50% Balance Point Rule - NinjaTrader Programming | futures io social day trading
futures io futures trading


50% Balance Point Rule
Updated: Views / Replies:13,918 / 74
Created: by perryg Attachments:31

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 31  
 
Thread Tools Search this Thread
 

50% Balance Point Rule

  #1 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received

50% Balance Point Rule

The above 50% rule is the (HIGH + LOW)/2 of the previous 2 days. Looking at the attached chart from todays trading of the 6B and 6E, I have taken the High of Monday and the Low of Tuesday divided by 2, and this the BLACK DASH line on the chart.

The market uses this as a magnet for S/R. It is quite uncanny how the market bounce of these lines. The attached chart shows it happening now in realtime.

I am looking for a simple indicator that will put say 3 -5 of these lines on the chart as we go forward each day.

So if we are Wednesday today, we will see the line of (Monday-Tues), (Friday-Monday), (Thurs-Fri) etc going back 3 -5 lines. This will give give 3 -5 history lines. One can then see how the market just bounces of these lines. Very effective and very simple

Attached Thumbnails
50% Balance Point Rule-50-balance-point.png  
Reply With Quote
The following 3 users say Thank You to perryg for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,215 since Jun 2009
Thanks: 628 given, 6,313 received
Forum Reputation: Legendary


cool I am always in market looking for some horz line indicator, so you specify start time and end time or it just picks that up from session time?

Reply With Quote
 
  #4 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received

Cory,
Basically you want it on a day(24 hour) to Day basis. I do it manually, by looking at High and lows of the previous 2 days. I imagine that both options would work, i.e. puttin in a start time/end or session. As I trade only futures, they trade 24 hours, so I look at it from a DAY to DAY - 0 -23:59

You could then put say 5 lines as Day1, Day2, .....Day5

Reply With Quote
 
  #5 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,215 since Jun 2009
Thanks: 628 given, 6,313 received
Forum Reputation: Legendary

Ninja already has previous day H/L, you want all previous days H/L extend to current day?

Reply With Quote
 
  #6 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received

You always look back 2 days .i.e. Yesterday and the day before. Take the High of those 2 days and the Low of the those 2 days, divide by 2, this is your line.

NT does not help to have the H/L of the previous day, as you must take the H/L of 2 days from the current trading day.

Reply With Quote
 
  #7 (permalink)
Member
USA
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: IB
Favorite Futures: ES
 
Jugador's Avatar
 
Posts: 163 since Jul 2009
Thanks: 67 given, 51 received


perryg View Post

The market uses this as a magnet for S/R. It is quite uncanny how the market bounce of these lines.

Is this something you've discovered, or is there another source to learn about it? Either way, looking forward to future post!

Reply With Quote
 
  #8 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,215 since Jun 2009
Thanks: 628 given, 6,313 received
Forum Reputation: Legendary

>a) High of Monday and the Low of Tuesday divided by 2

is not the same as

>b) take the High of those 2 days and the Low of the those 2 days, divide by 2


which one is correct?

Reply With Quote
 
  #9 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received

Cory,

(b) is correct.

You take the Highest High of the 2 days and the Lowest Low of the 2 days, add together and divide by 2.

Reply With Quote
 
  #10 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received


This method is well known amongst professional traders who use it on a daily basis. I came across this some years ago in a book from Bryce Gilmore, and have used it ever since.

Reply With Quote
The following 3 users say Thank You to perryg for this post:

Reply



futures io > > > > > 50% Balance Point Rule

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
help defining a trade rule with excel ALFASSY Sierra Chart Programming 10 June 13th, 2011 09:37 PM
Coin flips to reach 50-50 distribution aligator Traders Hideout 7 April 5th, 2011 05:08 PM
The Rule of 70 worldwary Trading Journals 56 March 31st, 2011 03:54 PM
IRS Wash Sales Rule monpere Stocks and ETFs Trading 4 December 4th, 2010 04:24 PM


All times are GMT -4. The time now is 02:21 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.12 seconds with 20 queries on phoenix via your IP 54.163.209.109